ECOLAB INC. — Director's Dealing 2018

Jan 10, 2018

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2018-01-01

Reporting Person: Brown Darrell R (EVP & Pres. - Energy Services)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7256	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$35.630	2018-12-03	Common Stock (8300)		Direct
Employee Stock Option (Right to Buy)	$45.665	2019-12-02	Common Stock (3500)		Direct
Employee Stock Option (Right to Buy)	$119.120	2025-12-02	Common Stock (30762)		Direct
Employee Stock Option (Right to Buy)	$117.730	2026-12-07	Common Stock (15889)		Direct
Employee Stock Option (Right to Buy)	$137.087	2027-12-06	Common Stock (17274)		Direct
Restricted Stock Units	$	2022-05-03	Common Stock (2800)		Direct

Footnotes

F1: Option granted under the Ecolab Inc. 2005 Stock Incentive Plan. The option became exercisable, on a cumulative basis, as to one-third of the option shares (excluding any fractional portion less than one share), on each of the first and second anniversaries of the date of grant and as to the remaining option shares on the third anniversary of the date of grant. The date listed is the first anniversary of the date of grant.

F2: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan. The option becomes exercisable, on a cumulative basis, as to one-third of the option shares (excluding any fractional portion less than one share), on each of the first and second anniversaries of the date of grant and as to the remaining option shares on the third anniversary of the date of grant. The date listed is the first anniversary of the date of grant.

F3: Each restricted stock unit represents a contingent right to receive one share of Ecolab Inc. common stock. The units will vest, subject to continued employment, as to 100% of the grant amount on the fifth anniversary of the date of grant.